There is no feeling more frustrating than that of being stuck and stagnant in business. This often starts to happen when a company’s market becomes oversaturated with competitors and there’s not enough clientele to go around. The results can be disheartening, causing businesses to downsize, and company morale to fall. The most reliable way to dig your enterprise out of a stale predicament is to tap into a new market and create fresh business relationships, but how? Many consider bringing their business overseas, but regularly pursuing cross-border transactions isn’t always simple if you don’t have a global importer.
IMAGE: PEXELS
Using A Global Importer – Clearing The Hurdles
When it comes to importing and exporting, there are certain items that will always be challenging to clear. For example, if you’re leasing technologies or shipping computer software, IT equipment, or other goods deemed to be controlled-use, dual-use, or sensitive, you must prepare yourself for a battle at customs. The amount of effort that is demanded from a technologies reseller before obtaining a clearance is colossal, but if you want to know how importer of records save you money simply compare the clearance times of IoR customs transactions versus those done without an IoR.
They must procure all the correct customs support documentation, commercial invoice, and freight delivery waybill; they must even research specific differences in procedure and protocol for each separate country they ship to. Furthermore, their equipment must often be shipped to special data centers before being awarded clearance, meaning they must also book a freight service or forwarder working in the receiving country to transfer the goods to their intended destination.
[pullquote]If so much as one piece of paperwork is not filled out accurately, or if proper proof of permits and licenses isn’t provided, the equipment can be held at the border, causing great delays, costing resellers money and potentially their good standing with their global clients.[/pullquote] It puts a lot of pressure on these exporting entities, primarily because these new business relationships are so fragile, but also so necessary for growth and expansion.
What many resellers might not realize is that they do not have to go through this complex importing process without help. A knowledgeable and experienced Importer of Record will be able to not only take responsibility for the goods post clearance, they’ll provide additional services. Companies like Tec Ex for example also ensure safe and timely arrival of goods, assistance with preparing documentation including verifying accuracy, and import tax refunds saving reselling businesses money.
Value-added tax recovery from 40 of the 136 countries with which the importer only holds a point of presence only takes 6 months once the goods are cleared and clearance occurs anywhere between 4-10 days once a quote is approved. Furthermore, the company only charges their clients the landed-cost quote so there aren’t any unwelcome surprises.
Leave behind a local market that is drying up in favour of one that your competitors are not yet pursuing. Partner with a strong global distributions partner, let them do the legwork for you, and start doing business internationally without the associated stress of wondering whether your shipment will make it over the border securely and in compliance with the law.
If you are interested in even more business-related stories and information from us here at Bit Rebels then we have a lot to choose from.
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